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Murrey Math Lines 13.10.2023 (Brent, S&P 500)

Brent

Brent quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, the price is expected to rebound from 3/8 (85.94) and drop to the support of 1/8 (82.81). The scenario can be cancelled by rising above the 3/8 (85.94) mark. In this case, Brent quotes might climb to the resistance at 5/8 (89.06).

Murrey Math Lines 13.10.2023 Brent
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, a breakout of the lower boundary of the VoltyChannel could increase the probability of a further price decline.

Murrey Math Lines 13.10.2023 Brent
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The stock index quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI has broken the support line. In this situation, the price is expected to continue falling to the nearest level of 3/8 (4296.9). The scenario can be cancelled by rising above the resistance level of 4/8 (4375.0), which could lead to a trend reversal and a price rise to 5/8 (4453.1).

Murrey Math Lines 13.10.2023 S&P_500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the lower boundary of the VoltyChannel is broken, which increases the probability of a price decline.

Murrey Math Lines 13.10.2023 S&P_500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.


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